Greenlight Capital Gets Einhorned by Gold, Boosts Stake in OIS

David Einhorn’s Greenlight Capital is the latest hedge fund to suffer from the downturn in gold. According to Jennifer Ablan of Reuters, the offshore gold hedge fund was down 11.8 percent in June, bringing year to date losses at the fund close to 20 percent. However, the Greenlight Capital flagship hedge fund is up 7.4 percent year to date according to Reuters. We have more breaking information on the insurer Greenlight Capital Re, Ltd. (NASDAQ:GLRE) based on information just posted on the firm’s website.

In terms of performance, Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was up 7.9 percent in the first half of 2013. The fund was down 0.8 percent in June. Besides gold, returns were hurt by the largest holding, Apple Inc. (NASDAQ:AAPL), which was down over 10 percent in the second quarter.

We will have more details when the second quarter letter comes out, and when Greenlight Capital RE hosts its second quarter earnings call. A spokesperson for Greenlight spokesperson did not return a a request for comment.